AST SpaceMobile (NASDAQ:ASTS) Shares Down 4.6% – What’s Next?

AST SpaceMobile, Inc. (NASDAQ:ASTS)’s stock price fell 4.6% during mid-day trading on Thursday . The company traded as low as $28.87 and last traded at $29.74. 5,508,032 shares changed hands during trading, a decline of 52% from the average session volume of 11,536,661 shares. The stock had previously closed at $31.17.

Analyst Ratings Changes

ASTS has been the topic of a number of recent research reports. UBS Group increased their target price on AST SpaceMobile from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Scotiabank reduced their price objective on shares of AST SpaceMobile from $44.70 to $40.20 and set a “sector outperform” rating for the company in a research note on Friday, January 24th. Finally, Cantor Fitzgerald started coverage on shares of AST SpaceMobile in a report on Thursday, February 6th. They issued an “overweight” rating and a $30.00 target price for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $40.04.

AST SpaceMobile Price Performance

The firm has a 50-day moving average of $23.61 and a 200 day moving average of $25.12. The company has a market capitalization of $8.90 billion, a PE ratio of -14.36 and a beta of 1.62. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.80 and a quick ratio of 5.80.

Institutional Trading of AST SpaceMobile

A number of large investors have recently made changes to their positions in ASTS. Hollencrest Capital Management purchased a new stake in AST SpaceMobile in the third quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new position in shares of AST SpaceMobile during the 3rd quarter valued at $26,000. Summit Securities Group LLC purchased a new position in shares of AST SpaceMobile in the 4th quarter worth $37,000. Golden State Wealth Management LLC bought a new stake in shares of AST SpaceMobile in the fourth quarter worth $46,000. Finally, CIBC Private Wealth Group LLC increased its position in AST SpaceMobile by 106.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,372 shares of the company’s stock valued at $53,000 after acquiring an additional 1,222 shares during the last quarter. 60.95% of the stock is currently owned by institutional investors.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.